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Slim NEW YORK/MADRID: It's a bit rich, and disingenuous, for Argentina to hail Mexican billionaire Carlos Slim's new 8.4 percent stake in YPF as a sign of support. Sure, President Cristina Fernandez's administration desperately needs some international backing. Snatching the energy group for the nation's coffers in May might have made for good domestic politicking, but it angered Spanish majority owner Repsol and sent a worrying message to other foreign companies doing business in Argentina. Yet Slim is hardly making a bet on YPF. He got stuck with the stock as a result of a defaulted loan. Still, with patience he could make a buck.   Slim made the loan when YPF appeared to have a far brighter future. His financial group, Inbursa, helped finance Argentina's Petersen Group when it acquired an initial 15 percent of the energy company. The shares were offered as collateral and Petersen used its YPF dividend proceeds ...

Chavez shows off first Venezuelan drone  CARACAS: Venezuela has developed its own unarmed aerial drone with help from Iran, China and Russia, according to President Hugo Chavez, saying the drones had military and civilian uses. It is "one of three aircraft that we have made here, and we will continue to manufacture them," Chavez said Wednesday during a meeting with defense chiefs. "Russia, China, Iran and other allied countries" had contributed to the project, he added. The drone has a range of 100 kilometers ...
Brazil retail sales likely expanded in April  SAO PAULO: Retail sales in Brazil likely gained in April from the previous month as rising wages and lower borrowing costs supported demand for consumer goods, although some analysts say more retail growth this year may be limited. Brazil's domestic market, fueled by a growing middle class and record-low interest rates, has kept the nation's economy from slipping into recession as industry struggles with high labor costs and weak global demand.       Retail sales are expected to ...
Low carbon farming takes root in Brazil ANAPU: Manoel Jose Leite, a small-scale organic farmer, is set to pioneer low-carbon agriculture in Brazil's Amazon rainforest, which for decades has been destroyed by expanding agribusiness. Finding the right balance between agriculture and environmental protection will be one of the major challenges on the agenda of the UN conference on sustainable development, which opens in Rio on Wednesday. The issue is particularly pressing for leading grain exporter Brazil, 40 percent of whose huge territory is covered ...
Chavez launches campaign after cancer treatment CARACAS: Thousands of supporters thronged the streets of Caracas late Monday to join cancer-stricken Venezuelan President Hugo Chavez as he registered to seek reelection amid ongoing concerns about his health. The president sought to play down any concerns he might seek to extend his long-ruling socialist government which has nationalized strategic industries and heaped praise on Cuba's Communist model should he lose at the polls. "As a player in the political game, I have come here and ...
Chavez launches campaign after cancer treatment  CARACAS: Thousands of supporters thronged the streets of Caracas late Monday to join cancer-stricken Venezuelan President Hugo Chavez as he registered to seek reelection amid ongoing concerns about his health. The president sought to play down any concerns he might seek to extend his long-ruling socialist government -- which has nationalized strategic industries and heaped praise on Cuba's Communist model -- should he lose at the polls. "As a player in the political game, I have come ...
Chavez, after cancer treatment, launches reelection bid  CARACAS: Thousands of supporters thronged the streets of Caracas Monday to join cancer-stricken Venezuelan President Hugo Chavez as he registered to seek reelection amid ongoing concerns about his health. The president sought to play down any concerns he might seek to extend his long-ruling socialist government -- which has nationalized strategic industries and heaped praise on Cuba's Communist model -- even if he lost at the polls. "As a player in the political game, I have come ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln